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October 5, 2018

Developer admits to condo scam attached to failed Jasper-area resort

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A developer of what was supposed to be a $700-million luxury golf resort just outside Jasper National Park admitted Thursday to defrauding a number of people who invested in condominiums tied to the project.

Marie Laframboise, 61, pleaded guilty Thursday to one count of defrauding 24 people of money that exceeds $5,000.

Laframboise took money from people who thought they were putting down deposits on condos to be built on what was supposed to be a development near Hinton, according to an agreed statement of facts entered with the court.

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Laframboise’s company received about $872,000 in deposits on condominiums that were never built. She admitted to carrying out the fraud between April 1, 2006 and Dec. 31, 2010.

The only progress ever made on the resort lands was some road construction and tree clearing, said the agreed statement of facts. Laframboise also sold reservations for “future phases” and golf course memberships.

The deposit money was never placed in a trust, as required under the Condominium Property Act. Money was used to pay expenses and credit card debt related to the business and put towards the purchase of Folding Mountain Campground. About $94,000 was transferred to Laframboise’s personal account and about $44,000 was withdrawn at ATMs in casinos or businesses with VLTs.

Some of people who made deposits got money back, but many did not.

Keep reading in the Edmonton Journal

 


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